Page 45 - Commercial - Underwriting Mandates & Guidelines Binder

Buildings Combined
3. UNDERWRITING THE RISK
3.1 Flood levels, rivers
Refer to point 2.5 under the Fire section.
3.2 Malicious damage
This extension is now included in the wording under General Provision 10.
3.3 Solar power systems and other renewable energy risks
Refer to point 4.13 under the Fire section.
3.4 Non-standard construction
Refer to the section: Thatch/Timber/Non-Standard Construction.
3.5 Shade nets, plastic covers, tunnels or similar growing tunnels
Refer to point 4.3 under the Fire section.
4. RATING (AREA CLASSIFICATION AS PER FIRE SECTION)
Risk Classification
Area
Min Rate Allowed
Max Discount Allowed
1
2
L – Low
M – Medium
H – High
X – Extra High
4.1 Riot and Strike
0.100% 0.120%
0.185% 0.225%
0.290% 0.340%
Decline Decline
0.080% 20%
0.120% 35%
0.200% 30%
Decline
Decline
Refer to point 4.5 under the Fire section.
4.2 Leakage
4.2.1 Refer to point 4.7 under the Fire section.
4.2.2 Contents (especially stock in trade and plant and machinery) stored in the premises is more susceptible to damage following accidental leakage from any sprinkler system, fire extinguisher or similar equipment and additional cover may be purchased under the Fire section.
4.2.3 Therefore, due to a perceived lower exposure, leakage cover under the Building Combined section is limited to R50 000 only.
4.3 Subsidence and Landslip
Refer to point 4.9 under the Fire section.
4.4 Retaining walls
Refer to point 4.6 under the Fire section.
4.5 Thatch and non-standard construction
See section: Thatch/Timber/Non-Standard Construction.
4.6 Wild baboons/monkeys
Refer to point 4.10 under the Fire section.
4.7 Escalation
Refer to point 4.2 under the Fire section.
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022 43